Contractorbhai Team : What are your views for Loan Preference for Business Owners or SME i.e. self-employed segment?
Loan Expert : Oh , we love SME segment. SME segment is treasured by all banking and non-banking finance institutions.
SME is very interesting. Infact online loan application & approval is also very actively done for Business Owners.
Contractorbhai Team : If you receive two applications say, one of SME segment and other of Salaried Individual, how do you look at it?
Loan Expert : We do not have differentiation. There are certain risk parameters on which Loan companies operates. We decide the persona of applicant on basis of risk policy. And not on who is the applicant or nature of his work. If it matches our risk policy.
For SME, we would prefer, let’s say a salaried guy who is earning a CTC of 20 lacs. Say he receives 1 lac plus salary monthly. This salaried guy would qualify easily for loan. Paralleled to salaried guy, a SME guy shall have an annual turnover of 1.5 Crore to 2 crore. This will match the eligibility amount.
Contractorbhai Team : Would you prefer certain industries to offer loans to Business Owners?
Loan Expert : We do not do Construction, Jewellery. No tuition classes, no coaching centers.
Contractorbhai Team : Any specific reason why Loans are avoided to these industry business owners. Is it because it is difficult to judge them ?
Loan Expert : This is very volatile. Construction itself as an industry is very volatile. The real-estate prices keep fluctuating every now and then. Jewellery Industry is very much controlled. Coaching classes is very less regularized. Not every coaching classes have statutory stamping. Some can shut down anytime.